The State bank of India (SBI, country’s largest lender is adopting private banking strategies to improve efficiency, high quality of customer service and also act as a forum for sharing practices. Working on this line bank has implemented the concept of Super Circle of Excellence (SCE) to focus on select branches to achieve high growth.
By end of March 2010, under SCE were 661 branches, out of which 331 branches are under 16 dedicated SCE regions and 330 selected on the basis of one-per-region, facilitated by SCE coordinator.
The branches under SCE have been selected on a twin track approach, - one subset comprising bunch of branches in metro and large urban centers to meet the growing competition and other subset consisting of branches selected on the basis of one per region in order to transfer best practices from high-performing branches to other outlets across the country.
These branches will mainly focus on growth in retail business, CASA deposits and income from cross selling.
The SCE branches overall functioning is judged on a multi-dimensional efficiency matrix, covering all aspects of business. These branches have set standards by achieving high growth in retail operations and by providing outstanding customer services. The aim of these branches is to achieve a zero complaint status.
These branches comprise 5.32% of the total network of the bank. These branches are making significant contribution in business of SBI. As on March 2010, these branches have achieved growth of 12.94% in retail deposits, 15.90% in retail advances, 16.99% in personal advances and 13.36% in the cross-selling income, and have been maintaining steady growth.
These branches are extensively adapting new technology initiatives such as , internet banking, mobile banking, RTGS, NEFT, demat and e-trade to improve efficiency in providing services and to decongest the branches and increase overall customer experience. The SCE subset has contributed nearly 18% in total technological product coverage of the bank.
As on March 2010, the SEC branches have seen increase in retail deposits of Rs 53,451 crore (experiencing a year-on-year growth of Rs 9,879 crore, or 22.67% as against 21.97% achieved by non-SCE branches). Likewise, these branches achieved a growth of Rs 22,834 crore,y-o-y growth of Rs 6,488 crore in personal advances. While in CASA deposits these branches achieved an estimated growth of Rs 32,652 crore (Rs 7,650 crore), the ratio improved to 40.15% in March, 2010, from 35.20% in the year-ago period.
Also, the cross-selling income at these branches grew at Rs 27.66 crore (Y-o-Y growth of 112.17% from 97%).
To provide high quality of customer service and improve efficiency SBI has undertaken potential mapping application through SCE department through data warehouse portal to correctly measure and tap on the right potential available in the area of operation of each SCE branch. Bank has devised a feedback system with 25 parameters to determine the level of customer satisfaction in SCE branches on a matrix of 100. The feedback form is directly dispatched to customers and the responses keyed in online in the centralized CSM application developed by SCE department.
As continuous track of deficient areas is being kept therefore the average CSM scores is now in the range of 85-87 as against 80-82 in March 2009.
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